Uber Technologies’ (UBER) “Buy” Rating Reaffirmed at Guggenheim

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating restated by investment analysts at Guggenheim in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $135.00 price target on the ride-sharing company’s stock. Guggenheim’s price target points to a potential upside of 60.05% from the stock’s previous close.

UBER has been the subject of several other research reports. BNP Paribas Exane assumed coverage on Uber Technologies in a report on Wednesday, January 14th. They issued an “outperform” rating and a $108.00 price objective for the company. Exane BNP Paribas raised Uber Technologies to a “strong-buy” rating in a research report on Wednesday, January 14th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Mizuho began coverage on shares of Uber Technologies in a report on Monday, September 29th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, KeyCorp cut their target price on shares of Uber Technologies from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.97.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $84.35 on Thursday. The business has a 50-day simple moving average of $85.02 and a two-hundred day simple moving average of $90.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $175.26 billion, a price-to-earnings ratio of 10.89 and a beta of 1.20. Uber Technologies has a fifty-two week low of $60.63 and a fifty-two week high of $101.99.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, analysts expect that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Activity

In other news, insider Tony West sold 3,125 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $83.50, for a total transaction of $260,937.50. Following the completion of the transaction, the insider owned 176,584 shares in the company, valued at $14,744,764. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares in the company, valued at $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,875 shares of company stock valued at $1,319,130 in the last quarter. 3.84% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Uber Technologies by 0.7% during the third quarter. Vanguard Group Inc. now owns 190,828,841 shares of the ride-sharing company’s stock valued at $18,695,502,000 after purchasing an additional 1,277,322 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Uber Technologies by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock valued at $4,258,756,000 after acquiring an additional 1,168,288 shares during the last quarter. Norges Bank purchased a new position in Uber Technologies in the second quarter worth about $2,348,319,000. Northern Trust Corp increased its stake in Uber Technologies by 1.5% during the third quarter. Northern Trust Corp now owns 19,509,042 shares of the ride-sharing company’s stock worth $1,911,301,000 after acquiring an additional 297,132 shares during the last quarter. Finally, Capital World Investors raised its position in Uber Technologies by 1.1% during the third quarter. Capital World Investors now owns 17,016,467 shares of the ride-sharing company’s stock valued at $1,667,121,000 after purchasing an additional 182,976 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.